2016 (10) TMI 1044 - HC - Income Tax

Validity of assessment u/s 153 - Held that - The following question of law arises - Did the ITAT fell into error in holding that the assessment order for AY 2003-2004 was time barred given the pre-condition Clause (iii) of explanation (i) to Section 153 (1) of the Income Tax Act which led to the amendment to that provision by Finance Act no. 2 Act of 1996?. List on 04.01.2017.

Summary

The Delhi High Court admitted the case for further consideration. The question of law raised was regarding the time bar of the assessment order for AY 2003-2004 under the Income Tax Act. The case was listed for hearing on 04.01.2017.